The Ministry of Corporate Affairs in its official website under the news and updates column has decided to extend certain sections of the Companies Act to the LLP Act.
Section 90 which deals with register of significant beneficial owners and section 164 which relates to disqualifications of directors, vacation of office of directors under section 167, conduct of inquiries and inspections under section 207 and non-cognisable offences under section 439 will soon be applicable to LLPs
Clauses of Section 164 of the Companies Act, which state that a director of a company which has defaulted on filing financial statements or annual returns for three consecutive years will be disqualified as director, shall apply to LLPs.
Therefore MCA has advised the limited liability partnerships, partners and designated partners to take note of the same for appropriate action.
Click here to read the notification.
